March 20, 2002 RALEIGH, N.C. – Winston Hotels (NYSE:WXH) plans to raise roughly $24.8 million from the sale of 2.75 million common shares priced at $9/share.The company will use proceeds from the offering to repay debt.The lead underwriter...

March 20, 2002 WASHINGTON, D.C. – The country's 50 largest apartment owners own 2.78 million apartment units, according to a ranking by the National Multi Housing Council. That total represents 17 percent of the entire inventory of apartment...

March 19, 2002 ROCKVILLE, Md. – Federal Realty Investment Trust (NYSE:FRT) has named Larry Finger as senior vice president and chief financial officer.Finger will manage the REIT's accounting, capital markets and investor relations functions.Prior to joining Federal Realty,...

March 19, 2002 Commercial Real Estate Direct Staff ReportMore than half of the real estate professionals surveyed by the Pension Real Estate Association believes that real estate prices will increase by the end of this year.PREA also found...

March 19, 2002 RICHMOND, Va. – United Dominion Realty Trust (NYSE:UDR) has sold 3 million common shares to Cohen & Steers Capital Management.Proceeds of $42.3 million will be used to buy apartment communities and reduce outstanding debt under...

March 19, 2002 Commercial Real Estate Direct Staff ReportThe seven REITs that reported earnings over the past few weeks saw an average 26.01 percent decline in funds from operations for the 12 months ended Dec. 31, 2001.The dismal...

March 19, 2002 TACOMA, Wash. – Frank Russell Co., an investment services subsidiary of Northwestern Mutual, has selected Rreef to help manage two real estate securities funds.Rreef joins AEW Capital Management and Security Capital in managing two 411...

March 19, 2002 NEW YORK – Donald Trump and his Japanese partner will sell the Empire State Building for $57.5 million to an investment entity controlled by investor Peter Malkin, who holds the lease on the structure through...

March 19, 2002 Terranomics Developments has sold a Falls Church, Va., community shopping center for $11.875 million.The property, Corner at Seven Corners, contains 70,890 square feet and is fully leased to tenants such as The Gap, Guitar Center,...

March 19, 2002 St. Petersburg BofA tower sold for $41MlnSt. Petersburg (Fla.) TimesST. PETERSBURG, Fla. – Three private investors who like to keep low profiles paid $41 million for the 27-story Bank of America tower, which will retain...

March 19, 2002 HORSHAM, Pa. – GMAC Commercial Mortgage Corp. has named Jeffery M. Heath as senior vice president in the retail production office.Heath will originate permanent, bridge and construction mortgages as well as mezzanine products and equity...

March 18, 2002 WASHINGTON TOWNSHIP, N.J. – Heritage Property Investment Trust has purchased a shopping center for $34 million from American Continental Properties.The 371,128-square-foot Cross Keys Commons is at the intersection of Routes 42 and 555 in the...

March 18, 2002 Withrow plans $60Mln retail project in NCThe Business Journal of Charlotte (NC)CHARLOTTE, N.C. – Withrow Capital Inc. plans to build a $60 million retail center on the Mecklenburg-Union County Line that will consist of 800,000...

March 18, 2002 PARAMUS, N.J. – John Hancock Life Insurance Co. has provided a $14.7 million loan for a retail property occupied by BJ's Wholesale Club.The 12.5-year, fixed-rate financing was arranged by Tom Didio, senior managing director of...

March 18, 2002 EAST BRUNSWICK, N.J. – Insignia/ESG has named Nick Kim as director of its central New Jersey office.Prior to joining Insignia/ESG, Kim served as senior asset manager of Highlander Real Estate, a subsidiary of Ssangyong USA,...

March 18, 2002PHILADELPHIA – Walton Street Capital is again trying to sell 1650 Arch St. in Center City, a year after pulling the former Cigna Corp. headquarters off the market.The private real estate company in Chicago believes the...

NEW YORK – Standard & Poor's has raised its ratings on four classes of Morgan Stanley Capital I Inc.'s 1997-WF1 because of higher credit support levels and improved debt service coverage.The collateral backing the deal has a principal...

March 18, 2002 Class Amount Sub. Rate Rating S&P Rating Moody's Avg. Life Priced Benchmark A-1 150 18 AAA Aaa 2 +35 area Swaps A-2 180 18 AAA Aaa 5.74 +43 area Swaps A-3 363.7 18 AAA Aaa...

LOS ANGELES – Kilroy Realty Corp. (NYSE:KRC) has lined up a $425 million unsecured credit facility from a group of banks led by J.P. Morgan Chase. The facility replaces the REIT's previous $400 million credit line. It also...

SECAUCUS, N.J. – The Edison, N.J., office of Holliday Fenoglio Fowler has arranged financing for two unidentified industrial buildings totaling 100,000 square feet. Jon Mikula, Holliday' senior director, was responsible for arranging the financing of $6.25 million through...

March 18, 2002 DALLAS – Charter Holdings has received $32.8 million in floating-rate financing for its purchase of the 17-story Woodall Rodgers Tower north of downtown and the Arapaho Business Park in Richardson's telecom corridor.GE Capital has provided...

March 15, 2002 DENVER – ProLogis (NYSE:PLD) has completed the sale of two of its European cold-storage operations for $102 million.The operations sold comprise 37.8 million cubic feet of space. The company had previously announced that it was...

March 15, 2002 CLEARWATER, Fla. – Post Properties Inc. (NYSE:PPS) has sold Post Court, a 228-unit apartment complex, for $16 million.An affiliate of San Antonio, Texas, investment firm Internacional Realty Inc. bought Post Court, which was built by...

March 15, 2002 RALEIGH, N.C. – Konover Property Trust (NYSE:KPT) has received several non-binding offers to acquire the shopping center REIT.One of the offers made was by Prometheus Southeast Retail Trust, which holds about 67 percent of Konover's...

March 15, 2002 ATLANTA – Post Properties Inc. (NYSE:PPS) has agreed to transfer substantially all of its third-party general contracting business to a new company formed by former Post executives.The deal provides a way for the REIT to...